Darat Jordan Holdings (AMM:DARA) Beneish M-Score : -1.21 (As of May. 12, 2024)

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What is Darat Jordan Holdings Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Warning Sign:

Beneish M-Score -1.21 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Darat Jordan Holdings's Beneish M-Score or its related term are showing as below:

AMM:DARA' s Beneish M-Score Range Over the Past 10 Years
Min: -5.29 Med: -2.72 Max: 1.96
Current: -1.21

During the past 13 years, the highest Beneish M-Score of Darat Jordan Holdings was 1.96. The lowest was -5.29. And the median was -2.72.

Darat Jordan Holdings Beneish M-Score Historical Data

The historical data trend for Darat Jordan Holdings's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Darat Jordan Holdings Beneish M-Score Chart

Darat Jordan Holdings Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-1.83

-3.60

1.96

-1.52

-1.21

Darat Jordan Holdings Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial															-1.52	-2.22	-1.83	-	-1.21

Competitive Comparison of Darat Jordan Holdings's Beneish M-Score

For the Real Estate - Development subindustry, Darat Jordan Holdings's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Darat Jordan Holdings's Beneish M-Score Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Darat Jordan Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Darat Jordan Holdings's Beneish M-Score falls into.

Darat Jordan Holdings Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Darat Jordan Holdings for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 2.2394

0.528 * 2.4

0.404 * 1.0772

0.892 * 0.4

0.115 * 0.7619

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 2.1429

4.679 * 0.042891

0.327 * 1.2366

-1.21

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was JOD0.23 Mil.
Revenue was 0 + 0 + 0 + 0.04 = JOD0.04 Mil.
Gross Profit was 0 + 0 + 0 + -0.005 = JOD-0.01 Mil.
Total Current Assets was JOD2.24 Mil.
Total Assets was JOD11.70 Mil.
Property, Plant and Equipment(Net PPE) was JOD0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was JOD0.01 Mil.
Selling, General, & Admin. Expense(SGA) was JOD0.07 Mil.
Total Current Liabilities was JOD0.22 Mil.
Long-Term Debt & Capital Lease Obligation was JOD0.00 Mil.
Net Income was 0.255 + 0.063 + 0.073 + 0.081 = JOD0.47 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = JOD0.00 Mil.
Cash Flow from Operations was 0.05 + -0.106 + -0.402 + 0.428 = JOD-0.03 Mil.

Total Receivables was JOD0.26 Mil.
Revenue was 0 + 0.06 + 0.04 + 0 = JOD0.10 Mil.
Gross Profit was 0 + -0.026 + -0.004 + 0 = JOD-0.03 Mil.
Total Current Assets was JOD2.89 Mil.
Total Assets was JOD11.59 Mil.
Property, Plant and Equipment(Net PPE) was JOD0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was JOD0.01 Mil.
Selling, General, & Admin. Expense(SGA) was JOD0.08 Mil.
Total Current Liabilities was JOD0.18 Mil.
Long-Term Debt & Capital Lease Obligation was JOD0.00 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(0.232 / 0.04)	/	(0.259 / 0.1)
	=	5.8	/	2.59
	=	2.2394

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(-0.03 / 0.1)	/	(-0.005 / 0.04)
	=	-0.3	/	-0.125
	=	2.4

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (2.242 + 0.002) / 11.704)	/	(1 - (2.89 + 0.004) / 11.592)
	=	0.808271	/	0.750345
	=	1.0772

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	0.04	/	0.1
	=	0.4

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(0.008 / (0.008 + 0.004))	/	(0.014 / (0.014 + 0.002))
	=	0.666667	/	0.875
	=	0.7619

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(0.066 / 0.04)	/	(0.077 / 0.1)
	=	1.65	/	0.77
	=	2.1429

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((0 + 0.221) / 11.704)	/	((0 + 0.177) / 11.592)
	=	0.018882	/	0.015269
	=	1.2366

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(0.472 - 0	-	-0.03)	/	11.704
	=	0.042891

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Darat Jordan Holdings has a M-score of -1.21 signals that the company is likely to be a manipulator.

Darat Jordan Holdings Beneish M-Score Related Terms

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Darat Jordan Holdings (AMM:DARA) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Darat Jordan Holdings (AMM:DARA) » Definitions » Beneish M-Score

Traded in Other Exchanges

N/A

Address

Khalda, King Abdullah the Second Street, P.O. Box 930428, Building 167 B- First Floor, Amman, JOR, 11193

Website

http://www.darat.jo

Darat Jordan Holdings is an investment holding company. The group's objectives are to invest its funds and sources of financing in all types of available investments in different economic, financial, industrial, commercial, agriculture, real estate, tourism, and services sectors through its subsidiaries. It has three business segment namely Land Development, Financial Investments, and Other. The company derives the maximum revenue from Financial Investments segment.

Darat Jordan Holdings (AMM:DARA) Headlines

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